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Tag: Moniepoint

Business

Moniepoint’s CEO to chair Askya’s AI startup cohort

The founder and Group Chief Executive Officer of Moniepoint, Tosin Eniolorunda, has been appointed honorary chairman of the inaugural cohort of the Askya AI Growth Platform, a pan-African initiative targeting investment of up to $200,000 in selected African artificial intelligence startups. The programme, launched by Askya Investment Partners, will support 10 AI-native, Africa-focused startups with […]

Finance

Women entrepreneurs repay loans better than men — Moniepoint

Women-owned businesses in Nigeria are better at repaying loans than their male counterparts, according to new data from Moniepoint. In its 2025 Impact Report, the fintech said the default rate among women-owned businesses in its loan portfolio was 2.5 times lower than that of male-owned businesses, despite women continuing to face greater barriers to accessing […]

Business featured

Digital payments reshaping Nigeria’s food service industry — Moniepoint

A new study has revealed that digital payment infrastructure is transforming Nigeria’s food service industry, helping businesses overcome longstanding operational challenges and driving the sector to an estimated $11.09 billion market in 2025. The report, released by a digital bank, Moniepoint, projected that the industry would grow to $19.31 billion by 2030, representing an annual […]

Opinion

Moniepoint CEO says Nigeria’s informal sector holds untapped growth

Moniepoint co-founder and Group CEO Tosin Eniolorunda has argued that African businesses are leaving a huge growth opportunity untapped by continuing to design products and services around formal economy customers while ignoring the vast informal sector that drives the majority of economic activity across the continent. Nairametrics reported that Eniolorunda made the remarks at the […]

Kenya clears Moniepoint’s acquisition of Sumac Microfinance Bank
Business

Moniepoint secures $200m series C funding to drive continental expansion

Nigerian fintech Moniepoint Inc. has raised an additional $90 million, boosting its Series C funding round to a total of $200 million as it seeks to expand across Africa and beyond. The latest funding was backed by leading global investors, including Visa Inc., Development Partners International (DPI), LeapFrog Investments, and Alphabet Inc.’s Google Africa Investment […]

Suspect arraigned for allegedly stealing N1.1bn from Moniepoint
Opinion

Africa’s financial future will be shaped locally — Moniepoint

Moniepoint Microfinance Bank believes that the future of Africa’s financial system will be shaped within the continent through homegrown innovation, effective regulation, and informed journalism. The bank’s Chief Executive, Babatunde Olofin, emphasized this at the 2025 annual conference of the Finance Correspondents Association of Nigeria, themed “Bracing for the Digital Economy in Nigeria: Taxation, Banking […]

Kenya clears Moniepoint’s acquisition of Sumac Microfinance Bank
Tech

Moniepoint named among UK’s leading fintechs

Moniepoint Inc., a Nigerian-founded fintech, has been recognized by CNBC as one of the United Kingdom’s leading fintech companies, marking a fresh milestone in its global growth journey. The company, which ranks among Africa’s largest business payments and digital banking platforms, earned its place on the CNBC list compiled with market research firm Statista. The […]

Kenya clears Moniepoint’s acquisition of Sumac Microfinance Bank
News

Kenya clears Moniepoint’s acquisition of Sumac Microfinance Bank

The Competition Authority of Kenya has granted approval for Nigerian fintech firm Moniepoint to acquire a 78% stake in Sumac Microfinance Bank, marking a significant step in Moniepoint’s entry into Kenya’s tightly regulated banking sector. The deal, however, remains subject to final approval by the Central Bank of Kenya. If completed, it will give Moniepoint […]

News

Moniepoint, Afrigopay partner to expand AfriGO card adoption

Moniepoint Inc has partnered with Afrigopay Financial Services Limited, a subsidiary of the Nigeria Inter-Bank Settlement System to distribute five million AfriGO cards to Nigerians. This initiative aims to enhance the government’s digital payment agenda and accelerate the nationwide adoption of AfriGO, Nigeria’s National Domestic Card Scheme. According to the statement from the two organizations, […]

News

Moniepoint secures additional funding after $110m raise

Visa has made an investment in Moniepoint Inc., Nigeria’s latest unicorn, just months after the startup raised $110 million to reach this milestone. While the exact amount of Visa’s investment remains undisclosed, the company aims to support Moniepoint’s mission to empower businesses and accelerate its growth across Africa. Visa is also focused on promoting financial […]

Suspect arraigned for allegedly stealing N1.1bn from Moniepoint
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ICYMI: Suspect arraigned for allegedly stealing N1.1bn from Moniepoint

A 43-year-old man, Sunday Ozimede, was on Monday arraigned before the Federal High Court in Lagos for allegedly hacking Moniepoint Microfinance Bank’s vault and stealing the sum of N1.1 billion. Ozimede faces three charges of conspiracy, hacking, and obtaining money by false pretenses, as brought by the Police Special Fraud Unit. Prosecution counsel, Justine Enang, […]

News

Avoid publicly sharing account numbers, Moniepoint MD warns Nigerians

The Managing Director of Moniepoint Microfinance Bank, Babatunde Olofin, has warned Nigerians about the risks of sharing their account numbers publicly, particularly during the festive season. He noted that fraudsters could exploit such information to commit cyber fraud. This was disclosed by Olofin in an interview on Sunday, according to NAN. Olofin further emphasized the […]

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